21 April 2005	Thursday	11 Rabi-ul-Awwal 1426

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LPG price declines to Rs26 per kg KARACHI, April 20: The price of liquefied petroleum gas (LPG) is on decline owing to a thin demand in the summer season coupled with a production surplus of 620 tons a...		Saudi group coming to take over KESC KARACHI, April 20: The Saudi investors’ group Kanooz al Watan is coming to Pakistan either at the end of this month or early May to take over the management control of...
Govt borrows Rs146bn from State Bank KARACHI, April 20: The federal government borrowed Rs146 billion from the State Bank in a little more than nine months of this fiscal year, according to data released by the central...		KSE asks SECP to waive COT freeze date KARACHI, April 20: A representation signed by 75 members of the Karachi Stock Exchange was sent on Wednesday evening by the KSE MD, to the chairman, Securities and Exchange Commission of...
Index recovers 78 points on late buying KARACHI, April 20: Stocks on Wednesday staged a late recovery in response to an end of standoff on the Carryover Trade (COT) issue after the authorities accepted the KSE proposals of...		MoU signed to set up coal-based power plant KARACHI, April 20: A tripartite memorandum of understanding (MoU) has been signed between a Ukrainian firm Ukrinterenergo, Hyderabad-based Fateh Group and the Sindh Coal Authority to develop the Lakhra coalmine field,...
Call to join hands against post-9/11 challenges KARACHI, April 20: The Secretary, Ministry of Ports and Shipping, Fazal-ur-Rehman on Wednesday called upon D-8 countries to join hands against the post 9/11 challenges to trade, commerce and shipping sector,...		Trading slow on cotton market KARACHI, April 20: Trading on the cotton market remained slow as spinners and mills made selective purchases from some of Punjab ginneries, while leading groups were still busy to meet the...
Senate body asks for report on IDBP loans KARACHI, April 20: Senate Standing Committee on Finance and Banking has asked the Industrial Development Bank of Pakistan (IDBP) to furnish last three years complete report on sanctioning, rescheduling and write...		6pc rebate insufficient, says Prgmea KARACHI, April 20: Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) president Dawood Usman Jakhura has termed 6 per cent rebate for garment exports to EU as insufficient. In a statement...
Petroleum levies no more a viable revenue source: SBP letter to govt ISLAMABAD, April 20: The State Bank has asked the federal government to replace petroleum surcharges with new sources of revenue to meet the shortfall. The new sources may include agriculture tax....		FTA with Latin states customs union proposed ISLAMABAD, April 20: Pakistan has proposed to start negotiations on a free trade agreement (FTA) with Mercosur, a customs union among four Latin American countries — Brazil, Argentina, Uruguay and Paraguay....
CBR chief confident of achieving target ISLAMABAD, April 20: The Chairman, Central Board of Revenue (CBR) M. Abdullah Yusuf claimed on Wednesday that revenue collection would exceed the Rs580 billion target set for the financial year 2004-05....		ARL profits ISLAMABAD, April 20: The Board of Directors of Attock Refinery Limited has approved the Company’s accounts for the third quarter ended March 31. According to a press release the company earned...
Europe gold drifts down LONDON, April 20: Gold eased slightly in European trading on Wednesday, but held within ranges despite touching a one-month high, tracking the dollar, dealers said. The metal was unlikely to make...		Tata group to invest $2.5bn in BD DHAKA, April 20: India’s Tata group submitted on Wednesday its formal proposal to the government of Bangladesh to invest $2.5 billion in setting up steel, power and fertilizer units. Before submission...
Investment BEIJING, April 20: China’s major industrial group has decided to expand its business network in Pakistan for promoting cooperation in the textile sector. “We will set up our permanent office in...		Karachi Port operations KARACHI, April 20: Berthing activity on the Karachi Port on Wednesday was fairly brisk where 10 ships were berthed to load cement and naphtha and unload containers and vehicles, according to...